In January 1995, Vinod Khosla (a former Stanford student), a partner at the venture capital firm, Kleiner Perkins Caufield & Byers, arranged a US$250,000 "first round" backing for the project, with US$1.5 million provided over a ten-month period.
Soon thereafter, Geoff Yang, of Institutional Venture Partners, introduced an additional US$1.5 million in financing and Excite was formally launched in December 1995.
On March 31, 1998, Excite reported a net loss of approximately $30.2 million and according to its first quarter report it had only enough available capital to meet obligations through December. was in negotiations to purchase Excite for $5.5 billion to $6 billion.
However, prompted by Kleiner Perkins, @Home Network's Chairman and CEO, Thomas Jermoluk met with Excite’s chairman and CEO George Bell on December 19, and Excite was subsequently acquired by @Home Network, on January 19, 1999.
@Home's high-speed Internet services and existing portal were combined with Excite's search engine and portal, with a move towards personalized web portal content following the merger.